HSBC initiates 'Hold' on Lenskart with Rs 513 target despite 7,000-store runway
HSBC calls Lenskart India's largest eyewear player, citing its integrated manufacturing-retail moat, omnichannel model and store payback under a year. But with only ~2% upside to the Rs 513 target, it flags stretched valuation against a potential 7,000-store expansion from ~2,500 today.
HSBC initiated 'Hold' on Lenskart with Rs 513 target, calling it India's largest eyewear player with a 7,000-store expansion runway, but flags stretched valuation despite its integrated manufacturing-retail moat and omnichannel model.